Nektar Therapeutics (NASDAQ:NKTR) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Nektar Therapeutics (NASDAQ:NKTRGet Free Report) have been assigned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $141.50.

A number of equities analysts have recently commented on NKTR shares. Wall Street Zen raised Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Canaccord Genuity Group began coverage on Nektar Therapeutics in a report on Wednesday, July 22nd. They set a “buy” rating and a $153.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on Nektar Therapeutics in a research note on Friday, August 21st. They issued a “neutral” rating and a $65.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nektar Therapeutics in a report on Friday, August 28th. Finally, BTIG Research reiterated a “buy” rating and set a $178.00 price target on shares of Nektar Therapeutics in a research report on Wednesday.

View Our Latest Report on NKTR

Insider Activity at Nektar Therapeutics

In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 5,681 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total value of $397,670.00. Following the completion of the transaction, the insider directly owned 9,756 shares of the company’s stock, valued at $682,920. This trade represents a 36.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Howard W. Robin sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $60.32, for a total transaction of $603,200.00. Following the completion of the transaction, the chief executive officer directly owned 65,045 shares in the company, valued at approximately $3,923,514.40. The trade was a 13.33% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 21,823 shares of company stock valued at $1,380,558. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nektar Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NKTR. Orbimed Advisors LLC bought a new stake in shares of Nektar Therapeutics in the 1st quarter worth approximately $19,786,000. California State Teachers Retirement System grew its holdings in shares of Nektar Therapeutics by 97.5% during the 1st quarter. California State Teachers Retirement System now owns 28,682 shares of the biopharmaceutical company’s stock valued at $2,064,000 after purchasing an additional 14,162 shares during the last quarter. Swiss National Bank raised its position in Nektar Therapeutics by 50.2% in the 1st quarter. Swiss National Bank now owns 47,900 shares of the biopharmaceutical company’s stock worth $3,446,000 after purchasing an additional 16,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Nektar Therapeutics in the 1st quarter worth $1,138,000. Finally, Monashee Investment Management LLC bought a new stake in Nektar Therapeutics in the fourth quarter worth $3,980,000. 75.88% of the stock is currently owned by hedge funds and other institutional investors.

Nektar Therapeutics Stock Performance

Shares of Nektar Therapeutics stock opened at $69.76 on Friday. The stock has a market capitalization of $2.38 billion, a P/E ratio of -10.41 and a beta of 1.14. Nektar Therapeutics has a 52-week low of $33.40 and a 52-week high of $109.00. The stock’s 50-day simple moving average is $72.24 and its 200 day simple moving average is $72.07.

Nektar Therapeutics (NASDAQ:NKTRGet Free Report) last posted its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($1.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.97) by $0.74. The company had revenue of $10.13 million for the quarter, compared to analyst estimates of $10.43 million. Nektar Therapeutics had a negative net margin of 287.84% and a negative return on equity of 37.87%. Equities research analysts forecast that Nektar Therapeutics will post -8.28 EPS for the current fiscal year.

Nektar Therapeutics Company Profile

(Get Free Report)

Nektar Therapeutics is a biopharmaceutical company focused on discovering and developing medicines that harness the body’s immune system to treat cancer and autoimmune and inflammatory diseases. The company’s research is centered on cytokine biology, immune-cell regulation and its proprietary polymer-conjugation technologies, which are designed to modify therapeutic compounds and potentially improve their duration, delivery or tolerability.

Nektar’s pipeline has included investigational therapies such as rezpegaldesleukin, an immune-modulating treatment being studied for autoimmune and inflammatory conditions.

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Analyst Recommendations for Nektar Therapeutics (NASDAQ:NKTR)

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